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In the United States, most homes [1] are bought and sold using real estate agents affiliated with the National Association of Realtors (NAR), an industry lobbying group with over 1.5 million individual members. [2] NAR permits only its members to call themselves Realtors.
NAR already lost a big case. For decades, the NAR has required home sale listing brokers to provide an offer of compensation to a buyer’s agent up front. That usually comes out to about 6% ...
The jury ordered NAR and others to pay nearly $1.8 billion in damages to a class of more than 250,000 home sellers. ... NAR chief legal officer Katie Johnson addressed the lawsuit in the company ...
The verdict in the NAR lawsuit has made it likely the real estate industry won’t be able to charge 5%-6% commission rates across the board, writes Stephen Brobeck.
A powerful real estate trade group has agreed to do away with policies that for decades helped set agent commissions, moving to resolve lawsuits that claim the rules have forced people to pay ...
Carol Burnett v. National Enquirer, Inc. was a decision by the California Court of Appeal, which ruled that the "actual malice" required under California law for imposition of punitive damages is distinct from the "actual malice" required by New York Times Co. v. Sullivan to be liable for defaming a "public figure", and that the National Enquirer is not a "newspaper" for the purposes of ...
The National Association of Realtors (NAR) is an American trade association [4] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [5] making it the largest trade association in the United States [6] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
The brokerages all settled out-of-court, and in March 2024, NAR settled as well, agreeing to pay $418 million in damages and change some of their longstanding rules. (Final court approval was ...